(Snap) Snap Inc. reported 332 million daily active users in the first quarter of 2022, an increase of 18% from the prior year.
The company said that its revenue grew 38% in the first quarter from the previous year to $1.063 billion.
Snap’s net loss widened to $360 million in the quarter, compared to a loss of $287 million in the prior year.
The company’s adjusted EBITDA was $64.5 million, compared to adjusted loss of $1.71 million in the previous year.
Snap now anticipates a year-over-year revenue growth of between 20% to 25% in the second quarter of 2022. Adjusted EBITDA is expected to be between a breakeven point and $50 million.
SNAP: NYSE is up +0.034% on premarket.
